Provision of Internal Audit Services

Summary and scope

The provision of Internal Audit Services will include audit reviews in areas that are designed to improve and optimise EGW’s performance, such as: • Risk management and control monitoring, review and advisory services • Risk based business process reviews • Ad hoc special project requests from management to Board/Audit & Risk committee • Special investigative reviews i.e. frauds • Financial, operational, procedural and compliance reviews • IT systems reviews. Allocation of internal audit resources is based on an annual plan that takes into account: • Qualitative risk assessments of operations performed in consultation with management • Organisation strategy and business objectives • Any special tasks of projects requested by management or Audit & Risk Committee/Board • Discussion and input from the corporation’s external auditor. An internal audit scope will be prepared, presented and agreed upon by the Audit & Risk committee prior to the internal audit commencing. Internal audits will be working under the direction of EGW management and the audit and risk committee. The internal audit undertaken on behalf of the audit and risk committee and management is to be undertaken in a competent and professional manner.